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Refunds Anyone?

Discussion in 'Morocco Property' started by philip ellis, Jul 19, 2008.

  1. philip ellis

    philip ellis New Member

    Hi all
    my first post and I am desperately trying to work out whats going on with Sadia.

    Apart from the changes to Fedessa, who owns what and how does it move forward, has anyone successfully receivd a refund of their deposit?

    philip
     
  2. JOHNNY-D

    JOHNNY-D New Member

    No refunds for deposit if everything goes ok and straight.
    what is the case, anyway?
     
  3. Runda

    Runda New Member

    Saidia - Manzana

    Hi everybody - joined a while ago but not great with technology :confused: Really glad to hopefully get chatting with some people about Saidia. Nearly passed out last week with news of Fadesa but apparently all is well in Saidia :rolleyes: well the solicitor said anyway but it is taking forever to get AP5 ready - late 2008 now what! They had originally said March but i suppose it is giving me more time to gather the money lol! So what's the craic with everyone else? Any one any pictures? My inspection visit was 2006 and so I have not the slightest clue about the development - is there a town? What about the Marina? Anyone from Ireland who can tell me a handier route to get to Saidia - we went to Malaga, Melilla and someone picked us up in melilla but seemed to drive for hours to get to Saidia. very confusing - much appreciated :)
     
  4. Mr Ri

    Mr Ri New Member

    Runda

    Links to two websites that you can check out for pictures:
    LDJF under build progress -> click here
    Oasis under building progress ->click here

    We are still waiting for a speedier route from the UK/Ireland. Malaga to Melilla is still one of the better routes - use a taxi to the border, walk across the border, then pick up a second taxi on the other side (takes some of the risk out of the unpredictable border crossing). There's direct flights from a number of european cities detailed on this page of my site (click here) if you can find a decent connecting flight.

    When the time comes for snagging allow plenty of time and consider staying on the resort (click here for a selection of properties). Patience and perseverence is the key to getting your snags sorted out.
     
  5. Runda

    Runda New Member

    Hi Mr Ri, thanks for this - really good site and information. Is Saidiavacations a tourist agency/estate agency or something like that? I hope to come out around Christmas sometime if the apartment is ready or not so I can look the agency up when I get there. Thank you
     
  6. barlynda

    barlynda New Member

    barlynda

    Since we paid our deposit in October 2006 I consider that there has been no activity on the site and the Superior bankruptcy has over shadowed the whole project. My legal advisor simply wants me to pay more money to research the situation,but unitil I get some outsider/insider information I am keeping a careful watch on the development through a number of sites, but with little confidence.

    Any news on construction would be appreciated.
     
  7. Runda

    Runda New Member

    Information

    Hi there

    I asked Morocco Properties about a month ago as they had told me AP5 would be completed late 2008. They said there was no problem and then the letter came from fadesa saying they were not in trouble , Fadesa Morocco is different blah blah I am sure you got the letter too but I haven't heard anything since. What I have noticed though is that when the bank statements come (eratically!) they do nothing but take debits for whatever!!! All very :confused:

     
  8. Runda

    Runda New Member

    Short response

    Hi all

    I sent an e mail to Morocco Properties for an update on AP5 Saidia which is where I am still hoping to own :confused: and Robert Shaw wrote back as follows:

    "Thanks for the email - sorry for the slow response, I have been away for
    a few days.
    Fadesa Spain is going through a voluntary administration and although
    this does not affect things on Saidia, we are waiting on feedback from
    Fadesa Maroc and Addoha on how things will proceed on Saidia regarding
    completions etc. They will contact you directly in due course to
    organise this but until the dust has settled they have thanked everyone
    for their patience.
    Kindest regards,
    Robert"

    I am none the wiser :rolleyes:
     
  9. Investy

    Investy Senior Member

    You need to expect this to take time. There will be complex negotiations and legals to rationalise.
     
  10. kelliruston

    kelliruston New Member

    any news on this at all? i am concerned that after 2 years my £20k+ deposit has just disappeared into oblivion as these properties do no seem to be materialising - especially with the rising euro rate - the morthgage / property price is increasing!! Has anyone got a refun d yte?
     
  11. Runda

    Runda New Member

    Hi there kelliruston

    Did you get mail from elite properties? Where is your property? I responded to the first e mail about their visit and how brilliant it was and asked what about AP5 though this won't help you but maybe the link will of the video :rolleyes:

    This is the e mail:
    We we're shown AP4 during our visit but AP5 and 6 looked completely finished to me from afar.
    Addoha now have to finish the properties (I pointed out some small quality issues) and they will contact us all in 2009 re completion.
    I have been sent a video of Saidia that I will send to all our clients. Looks fantastic!
    Rob

    From afar? Can anyone help with this one as they haven't replied to me as to what afar is and if it is finished where are the keys/

    Sorry Kelliruston not much help I guess :confused:
     
  12. kelliruston

    kelliruston New Member

    update from legalex

    well i relly dont know what to do - look at this emai from legalex and please advise:

    Further to our previous communications, I would like to comment on the following regarding your purchase at Addoha-Fadesa Saidia in Morocco.

    1.- General situation;

    Since January this year 2008 we have been attempting to contact the representatives of Addoha-Fadesa for an update and final arrangements (snagging, delivery of property, completion paperwork, and in some cases assignment of contracts, etc) for the delivery of the properties that themselves had informed us were about to be released ( AP2, AP4, AP6, etc).



    Due to the internal changes that took place in the top and middle management in Addoha-Fadesa with the departure of the Spanish directors, we experienced a complete breakdown of communications in spite of repeated attempts to their lawyers, Directors and the few representatives left at Addoha- Fadesa. Our communications were by burofax, registered letter and none of them was replied. We attempted to use indirect channels to get to them to no avail. Our efforts have practically taken all the year 2008.

    We have been working to try to find a solution from our offices in London, Marbella and Saidia, without success. In the circumstances and given the fact that we consider that Addoha-Fadesa is not in a position to deliver the units in the near future and seems to ignore not only our requests but the fact that you have made an investment and they are in breach of contract, we have concluded that the options left to you now are the following:

    2.-



    A) Wait

    You may continue waiting for Addoha-Fadesa to respond to your queries.

    1.- If you are looking to complete, wait for the developer to confirm in writing that your property is finished and when you may sign the deeds in Saidia as well as carry out the snagging list, ( including the final VAT due on the unit and what compensation you will get after all the delays suffered if any).



    2.- If you have requested the cancellation of your contract, wait for the developer to resell the property and refund 75% of the funds that you paid. This is the only scenario contemplated by the developer at present in matters of cancellations.



    3.- If you have found a purchaser for your property, wait for Addoha- Fadesa to send you the transfer of rights documents countersigned.

    B) Take court action against Addoha-Fadesa

    In our opinion, the developer has not fulfilled his contractual obligations and after more that one year requesting a solution, the developer has not come up with any alternatives.



    Therefore, if you are not willing to continue waiting, and want to cancel the contract and get the deposit back, the only action left is a court action, by which you claim a refund of the money advanced plus interest (in Morocco the legal interest is 6%) and a compensation (which the court will estimate) and seek cancellation of the contract.





    Costs and proceedings of legal action;



    In the event you start legal actions against the developer to recover the amounts paid, the procedure at first instance will take approximately 6-10 months. The prosecutor with whom we have been discussing the issue is confident that Addoha-Fadesa are clearly in breach of their obligations and cannot argue force majeure for the delays as these have been of at least a year.





    Please note as well the following:





    1.- Formalities: we do not need to arrange a special Power of Attorney for litigation and a simple letter prepared by our office in French ( that we shall send you when we receive your instructions) will suffice.



    2.- Damages: The level of the compensation cannot be estimated at this stage as it will be decided by the judge taking into account all the circumstances of the breach but at least your principal and interests will be a clear part of the recovery.




    3.- Costs and fees: You will incur in legal and court expenses and fees. The court fees will amount to 2 % of the amount of the principal claim.



    Our fees for representing you in court will be 3.500€ (plus 16% VAT) approximately and, half of these fees should be paid in advance and the balance when the final ruling has been issued. These fees are subject to any possible alterations that may occur during the process such as early settlement, in which case they will be reduced.



    A provision of funds for the amount of 1.750€(plus 16%VAT) plus 2% of the amount that you paid to the developer must be made before any legal action can be taken.
     
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